OS You are working maumerem for AMA Asing. You have been asked to help resoldreported the most ex Datin Curry lynn As a merchandising company, Dolton Company were recetas cores to prepare for oss assinat, you have been asked to row your browser ses we won transactions by completing the following table Consider the effect of each ansaction on the tree account sted, then we checkers to identity anchored or credited. We do not wanted by me transaction check the 'No Eterbox Merchandise Inventory Estimated Restory out of Merchandise Sold Debit Credit Det Cred Det Credit Notect Purchase of merchandise for resale Yewly estimate for customer retums Freight paid for merchandise purchased 8 seng pont Return of merchandito purchased torrente Payment of service fee for processing credit card sales . Sale on sccount Customer payment on account DEB Customer returns Freight paid for sale with lotion Cash sale of merchandise Check My Work more Check My Work uses remaining Next > Sue and Et Suomet Asian for Grading After going through the accounting records of Dottie Company in detail, the audio made a lot of observations. You have been asked to reww the efect of these obnarvators Income from For each observation, use checkmarks to identty which tons on the income statement are overstated or understated. W none of these terms as atracted by the observation, check in Ween Sales Cost of Merchandise Sold Observations Gross Profit Operating Expenses Overstated Understated Overstated Understated Overstated Understated Overstated Understated Overstated Customer returns and allowances were sometimes debited to Estimated Returns Inventory and credited to Sales Sales tax collected on each sate was credited to - Costel Merchandise Sold Office supplies expense was included in administrative sense While the company accountant was on vacation, the cost of each sale was not recorded for sales transactions Credit card processing fees were debited to cost of Merchandise Next > Check My Work 4 more Check My Work uses remaining Assignment Main.do?invokerStake AssignmentSessionlocator Binprogrestatals credited to Sales Sales tax collected on each sale was credited to Cost of Merchandise Sold Office supplies expense was included in administrative expenses While the company accountant was on vacation, the cost of each sale was not recorded for sales transactions Credit card processing fees were debited to Cost of Merchandise Sold - 2 Inventory shrinkage was credited to Miscellaneous Selling Expense All freight costs were charged to Delivery Expense regardless of the terms of sale Income Statement The accountant for Doitin Company prepared the following income statement. The auditor has asked you to use this statement to provide as tonal formation to Dolfin Company on the Fral Questions panel Dolfin Company Income Statement For the Year Ended December 31, 2020 Sales 5320140.00 Expenses 1 Cost of merchandise sold Selling expenses 521017120 41.70920 35.292.40 27500 Administrative expenses Interest expense Total expenses 295.4780 525,59220 Net income Interest expense Total experies 27500 Net income 295.4780 52539220 Final Questions The auditor has asked you to prepare additional information about Dolfin Company's rests for last year. Use the data shown on the income woment in your computers 1. Computer the operating experies for Dolin Company 2. Compute the gross proor for Dollin Company 15 3. Compute the income from operations for Dolkin Company OS You are working maumerem for AMA Asing. You have been asked to help resoldreported the most ex Datin Curry lynn As a merchandising company, Dolton Company were recetas cores to prepare for oss assinat, you have been asked to row your browser ses we won transactions by completing the following table Consider the effect of each ansaction on the tree account sted, then we checkers to identity anchored or credited. We do not wanted by me transaction check the 'No Eterbox Merchandise Inventory Estimated Restory out of Merchandise Sold Debit Credit Det Cred Det Credit Notect Purchase of merchandise for resale Yewly estimate for customer retums Freight paid for merchandise purchased 8 seng pont Return of merchandito purchased torrente Payment of service fee for processing credit card sales . Sale on sccount Customer payment on account DEB Customer returns Freight paid for sale with lotion Cash sale of merchandise Check My Work more Check My Work uses remaining Next > Sue and Et Suomet Asian for Grading After going through the accounting records of Dottie Company in detail, the audio made a lot of observations. You have been asked to reww the efect of these obnarvators Income from For each observation, use checkmarks to identty which tons on the income statement are overstated or understated. W none of these terms as atracted by the observation, check in Ween Sales Cost of Merchandise Sold Observations Gross Profit Operating Expenses Overstated Understated Overstated Understated Overstated Understated Overstated Understated Overstated Customer returns and allowances were sometimes debited to Estimated Returns Inventory and credited to Sales Sales tax collected on each sate was credited to - Costel Merchandise Sold Office supplies expense was included in administrative sense While the company accountant was on vacation, the cost of each sale was not recorded for sales transactions Credit card processing fees were debited to cost of Merchandise Next > Check My Work 4 more Check My Work uses remaining Assignment Main.do?invokerStake AssignmentSessionlocator Binprogrestatals credited to Sales Sales tax collected on each sale was credited to Cost of Merchandise Sold Office supplies expense was included in administrative expenses While the company accountant was on vacation, the cost of each sale was not recorded for sales transactions Credit card processing fees were debited to Cost of Merchandise Sold - 2 Inventory shrinkage was credited to Miscellaneous Selling Expense All freight costs were charged to Delivery Expense regardless of the terms of sale Income Statement The accountant for Doitin Company prepared the following income statement. The auditor has asked you to use this statement to provide as tonal formation to Dolfin Company on the Fral Questions panel Dolfin Company Income Statement For the Year Ended December 31, 2020 Sales 5320140.00 Expenses 1 Cost of merchandise sold Selling expenses 521017120 41.70920 35.292.40 27500 Administrative expenses Interest expense Total expenses 295.4780 525,59220 Net income Interest expense Total experies 27500 Net income 295.4780 52539220 Final Questions The auditor has asked you to prepare additional information about Dolfin Company's rests for last year. Use the data shown on the income woment in your computers 1. Computer the operating experies for Dolin Company 2. Compute the gross proor for Dollin Company 15 3. Compute the income from operations for Dolkin Company